Akre Capital

Q4 2021 13F · by John Neff, portfolio manager

Picture96.2% US stock

Full picture · of what this 13F reports is US stock

+1.5 pp in · −0.6 pp out

Concentrated · behaves like 13 equal-sized positions

Low turnover · 0.6% a year, more than 30 years per position


MCOMoody's Corporation	12.74%	5,621,097	$2.2B	added0%	+0.45 pp	35 q
MAMastercard Incorporated	12.22%	5,861,191	$2.1B	added0%	−0.32 pp	35 q
AMTAmerican Tower Corporation	11.90%	7,009,097	$2.1B	added0%	+0.44 pp	35 q
VVISA Inc.	6.60%	5,244,738	$1.1B	held	—	35 q
ORLYO'Reilly Automotive, Inc.	6.47%	1,579,281	$1.1B	added0%	+0.53 pp	35 q
KKRKKR & Co. Inc.	6.37%	14,730,660	$1.1B	added0%	+0.85 pp	15 q
KMXCarMax Inc.	5.51%	7,290,172	$949M	added+3%	−0.09 pp	33 q
ADBEAdobe Inc.	5.03%	1,530,090	$868M	added0%	−0.40 pp	8 q
ROPRoper Technologies, Inc.	4.75%	1,663,070	$818M	added0%	+0.18 pp	32 q
unresolvedBrookfield Asset Mgmt Inc	4.60%	13,127,979	$793M	added0%	+0.27 pp	10 q
CSGPCoStar Group Inc	4.48%	9,764,350	$772M	added0%	−0.69 pp	9 q
CRMSalesforce, Inc.	4.13%	2,800,000	$712M	held	—	3 q
SBACSBA Communications Corp	3.49%	1,547,180	$602M	trimmed−20%	−0.44 pp	10 q
VRSKVerisk Analytics, Inc.	3.25%	2,445,001	$559M	added0%	+0.24 pp	35 q
DHRDanaher Corporation	3.16%	1,655,300	$545M	held	—	33 q
DLTRDollar Tree Inc.	2.16%	2,652,191	$373M	trimmed−26%	+0.05 pp	35 q
AKXAnsys Inc	1.42%	609,764	$245M	held	—	9 q
ALRMAlarm.com Holdings, Inc.	0.97%	1,978,658	$168M	held	—	27 q
CLNSDigitalBridge Group, Inc.	0.51%	10,504,800	$88M	held	—	10 q
GSHDGoosehead Insurance, Inc. Class A	0.22%	293,366	$38M	held	—	13 q
BRK.BBERKSHIRE HATHAWAY Class B	0.03%	17,504	$5M	held	—	35 q
TDUPThredUp Inc. Class A	0.00%	22,500	$287,000	held	—	4 q
OLLIOllie's Bargain Outlet Holdings, Inc.	—	−500,000	—	exited	−0.19 pp	—